South Carolina Treasurer Curtis Loftis runs a program that matches unclaimed property to its owner and sends the check without a claim form. The office calls it Palmetto Payback. A letter arrives first, the check follows about four to six weeks later, and each check is good for only 90 days.
How Palmetto Payback sends money with no claim form
The State Treasurer’s Office says the program matches qualified unclaimed property to the person who owns it and starts payment on its own, with no additional paperwork. The office mails a notification letter, and the check is mailed roughly four to six weeks after the letter arrives, to the address printed on that letter.
Unclaimed property is money that a business could not deliver to its owner. Loftis’s office lists forgotten bank accounts, uncashed checks, insurance proceeds, utility deposits, stocks and bonds among the sources. Companies turn the money over to the state, and the state holds it until the owner turns up…